Insurance Age

RSA refuses to follow NU rate hike

"We look at weather claims over a long time period and one bad year doesn't necessarily mean premiums need to rise the following year.

"While the scale of this year's flooding is unprecedented we do expect flood events to occur and price accordingly. We have our own unilateral process for setting prices by reference to our own internal technical pricing models and based on a number of factors. It is the unique combination of these factors that determines the price a customer will pay."